Everspin Technologies Appoints William Cooper as Chief Financial Officer

Everspin Technologies, Inc. (NASDAQ: MRAM) recently announced the appointment of William Cooper as its Chief Financial Officer, effective January 6, 2025. Cooper, aged 59, brings with him a wealth of experience, having previously held various executive finance positions at Advanced Micro Devices, Inc. (AMD) since March 2017.

During his tenure at AMD, Cooper served in roles such as Director of Financial Planning and Analysis, overseeing global planning and budgeting processes. Prior to AMD, Cooper held significant finance positions with Volex plc and gained extensive experience in the medical device industry as well as in public accounting.

Cooper’s appointment comes with an annual base salary of $300,000 and an annual target bonus equal to 75% of the base salary. Additionally, he will receive a sign-on bonus of $45,000 and an equity award of 100,000 restricted stock units (RSUs) under the Company’s Amended and Restated 2016 Equity Incentive Plan.

As part of his compensation package, Cooper will also be eligible for benefits outlined in the Employment Agreement, which includes participation in the Company’s Executive Change in Control Plan. This plan provides for various benefits in the event of termination under specific circumstances surrounding a Change in Control.

Everspin Technologies expressed its enthusiasm regarding Cooper’s appointment, citing his financial expertise and leadership skills as valuable assets to drive growth and profitability. Sanjeev Aggarwal, President and CEO of Everspin, expressed confidence in Cooper’s ability to contribute positively to the company’s expansion and development.

In light of Cooper’s appointment, the Company and Matthew Tenorio reached an agreement where Tenorio would transition from the interim Chief Financial Officer role to become the Vice President of Finance for an interim period.

Everspin Technologies issued a press release on January 8, 2025, to formally announce Cooper’s appointment, highlighting his key role in advancing the company’s strategic direction during a pivotal phase aimed at scaling operations and securing new design wins.

About Everspin Technologies
Everspin Technologies, Inc. is a leading provider of magnetoresistive RAM (MRAM), delivering high-performance non-volatile memory solutions for industrial IoT, data centers, and other critical applications. The company is headquartered in Chandler, Arizona, and offers commercially available MRAM products to a diverse customer base.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, which could cause actual results to differ from expectations. Everspin Technologies disclaims any obligations to update forward-looking statements based on subsequent events or developments.

For further information, please contact:
Monica Gould
The Blueshirt Group
T: 212-871-3927
[email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Everspin Technologies’s 8K filing here.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.